NOW OPEN: the MSE Forum 'Ask An Expert' event. This time we'd like your questions on TRAVEL & HOLIDAY DEALS. Post by Wed and deals expert MSE Oli will answer as many as he can.

PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Thank you for your understanding.

MSE News: House prices continue to rise, says Nationwide

"House prices have recorded their largest year-on-year increase in 18 months, says Nationwide..."
Read the full story:

House prices continue to rise, says Nationwide

OfficialStamp.gif


This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

Replies

  • thelawnetthelawnet Forumite
    2.5K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    Forumite
    A 1.1% increase is a real-terms fall in house prices.

    Prices have genuinely increased in certain areas of course. It's not a national picture.
  • Yes apparently they're going to soar by 30% in 2 years experts have said quote from the Daily Express



    So at 15% per year my place will be worth in 15 years (value today £300,000) ......£2,441,118

    Not bad considering what I paid for it.
  • thelawnet wrote: »
    A 1.1% increase is a real-terms fall in house prices..

    So what you're saying is that house prices rose, AND the price of everything else rose by a bit more.

    Perhaps we need a new name for "real terms falls".....
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • martinsurreymartinsurrey Forumite
    3.4K Posts
    So what you're saying is that house prices rose, AND the price of everything else rose by a bit more.

    Perhaps we need a new name for "real terms falls".....

    No, he is exactly right on the definition of real prices, being prices of one thing relative to everything else.

    The article is talking about nominal prices, which are prices in pounds shillings and pence.

    As incomes rose by more than 1.1% affordability is up.
  • HAMISH_MCTAVISHHAMISH_MCTAVISH Forumite
    28.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    As incomes rose by more than 1.1% affordability is up.

    Indeed.

    And as mortgage rates are low, affordability has almost never been better.

    Shame mortgage rationing is excluding so many people from being able to take advantage.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • Look at the figure titled 'long term real house price trend' on the last page of Nationwides May release.
  • RedyamRedyam Forumite
    9 Posts
    Yes apparently they're going to soar by 30% in 2 years experts have said quote from the Daily Express



    So at 15% per year my place will be worth in 15 years (value today £300,000) ......£2,441,118

    Not bad considering what I paid for it.

    I think you can safely ignore any quote from the Daily Express.
This discussion has been closed.
Latest MSE News and Guides

Energy Price Cap change

Martin Lewis on what it means for you

MSE News

Best £1 you've ever spent?

Share your most impressive bargains

MSE Forum